Speaker of the Parliament Mohamed Nasheed has warned that the government does not have enough funds for essential needs and that the country's foreign currency reserve is low.

Speaking ahead of the Parliamentary debate on the Committee report on the Proposed State Budget for 2023, Nasheed said that while the country's funds reserved for essential needs are heavily depleted, it is not appropriate for the MPs to speak in different manners. He insinuated that the MPs must be mindful of the true economic state of the country during their debate.

He added that this was something that he needed to highlight as the Speaker.

During the debate, MP for Addu Maradhoo Constituency Ibrahim Shareef said that the proposed budget for next year aims to steady the current economic situation in the country.

Aiming criticism at the MPs who recently opposed the newly-approved Tax Amendment Act bill and the Speaker Nasheed, MP Shareef said that the MPs who opposed the bill did not want to increase the State reserve.